Sorry about the misunderstanding. Was the conversion in the year 2021 or did you not do it until 2022? If you did it in 2021, you should have received a 1099-R. That is where you will report the conversion, not in the Roth IRA contributions that I was referencing in my last post. To enter the 1099-R for your conversion from a traditional IRA to a Roth IRA:
- Search for 1099-R and select the Jump to link in the search results.
- Continue through the screens to import or enter your 1099-R form.
- The IRA/SEP/SIMPLE box is checked.
- When asked What did you do with the money? select I did a combination of rolling over, converting, or cashing out the money. Enter the money converted to a Roth and Continue.
- After a few more screens, it will ask Any Nondeductible Contributions to Your IRA? If you had a basis in your traditional IRA account, you may enter it here as well as the starting and ending values of the IRA so TurboTax can determine the taxable amount of the conversion.
If you had a basis in your traditional IRA, you should see Part I of the 8606 filled and the taxable and nontaxable portions of your conversion in Part II. If the entire amount was taxable, Part I would be blank and the entire taxable distribution would appear in Part II.
